There are various ways to value property in a marital estate. When a trial is pending, your Miami family lawyer will want to use the most credible evidence possible to buttress your valuation opinion. However, in a mediation or negotiation, the only credibility requirement is that which will satisfy both parties.
There are various degrees of credibility. As a Miami family lawyer can advise you, proportioning the valuation process to satisfy the parties or a judge is a process of gathering more and more evidence. Basically, the parties gather and refine various degrees of evidence until the parties reach a mutually agreeable conclusion. This process can be viewed as an evolution from the least credible evidence to the most credible.
For example, assessing the valuation of a motor boat may advance through various tiers from the least credible evidence to the most credible:
- Least Credible: Parties’ opinions. Each party gives his or her opinion, without any real substantiation, of what they think the boat is worth.
- More Credible: Broker’s opinion. A boat broker or other person experienced in boat sales gives an opinion as to the boat’s value.
- Even More Credible: Appraisal. A person trained in appraising boats is paid to give a value.
- Most Credible: Sale. The most credible conclusion of value for marital estate division purposes is the actual sale of the boat.
The parties may need to climb up to another credibility tier when they do not have adequate information about the value at issue. A valuation based on insufficient information could lead to an unfair division of property.
For advice about the specific issues in your divorce, contact Miami family lawyer Miriam Montalvo.